TechFlow news — A recent survey by Indian think tank Esya Centre suggests the government should consider revising cryptocurrency tax policies rather than relying solely on anti-money laundering (AML) regulations. The survey covered 1,342 highly educated respondents across five cities, revealing that 58% are aware of crypto tax regulations and 52% understand AML rules. AML regulations were associated with an 8% increase in investors shifting from crypto to stocks.
However, awareness of tax regulations correlated with a 10% rise in crypto investment and a 15% increase in investments via overseas platforms. The think tank recommends the government revise its tax rules and engage exchanges in policy-making. Respondents widely viewed crypto assets as highly attractive for investment and cross-border transactions, while NFTs and stablecoins were not seen as equally profitable.
